Increasing fintech won't displace banks: Moody's
Singapore
THE rise of financial technology (fintech) firms highlights the shift to digital in financial services but banks will retain a place at the centre of the industry and continue to work both alongside and in competition with new entrants, said Moody's Investors Service.
In a report released on Thursday, Moody's estimated the number of fintech-related startups at 4,000 globally, with total estimated venture capital investment swelling from about US$2.4 billion in 2011 to more than…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok suspends new app’s reward programme amid EU concerns
Hong Kong spot crypto ETFs to start trading next week
Cordlife substantial shareholder Nanjing Xinjiekou still mulling over offer to buy over remaining shares
Nvidia agrees to acquire Israeli AI software provider Run:ai
HSBC says growing Chinese wealth fuels client investments in US
Unilever's India quarterly profit disappoints